The Securities and Exchange Commission (SEC) has just issued an advisory for the public NOT TO INVEST or STOP INVESTING in any investment scheme being offered by WELLCONS UNLIMITED SYSTEMS, INC. According to SEC, Wellcons Unlimited Systems’ investment activities is a hybrid of a pyramiding and a Ponzi scheme. The said entity also does not have the required secondary license to engage in investment solicitation activities.
In its 9-page advisory issued last February 3, 2022, SEC stated that Wellcons Food Supplement Tradings is said to be headed by Merarie Espuerta Pailagao and is registered with the Department of Trade and Industry with principal office at P 15A, National Highway, Bagontaas, Valencia City, Bukidnon but its business scope is supposed to only be within Valencia City in Bukidnon.
As per records, WELLCONS UNLIMITED SYSTEMS, INC. (WELLCONS) although registered with the Commission, has NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code (SRC).
Notably, the schemes that is being offered by MERARI PAILAGAO through WELLCONS UNLIMITED SYSTEMS, INC. is not within its allowed activities.
Read the full advisory in the link below.